Intuit: Jefferies adjusts target after quarterly results
(CercleFinance.com) - Jefferies reiterates its 'buy' recommendation on Intuit shares, nudging up its target price for them from $790 to $800, the day after quarterly results reflecting a solid start to the accounting and tax software company's 2025 fiscal year.
The broker points to exceeded expectations in all segments, notably by around $100m at Credit Karma, and a two-point acceleration in revenue growth in the online ecosystem for small businesses.
Jefferies adds that it appreciates the good progress of Intuit's mid-market strategy, as well as a 40bp above-consensus operating margin of 29%, and the continuation of share buybacks over the past quarter.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The broker points to exceeded expectations in all segments, notably by around $100m at Credit Karma, and a two-point acceleration in revenue growth in the online ecosystem for small businesses.
Jefferies adds that it appreciates the good progress of Intuit's mid-market strategy, as well as a 40bp above-consensus operating margin of 29%, and the continuation of share buybacks over the past quarter.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.